Exide Industries, a known name in storage batteries, anticipates completing the first phase of its twelve-gigawatt lithium-ion cell manufacturing facility in Bengaluru by the end of the current financial year. The project, undertaken by Exide’s subsidiary Exide Energy Solutions, is progressing on schedule.
Exide Energy Solutions is in the final stages of setting up the lithium-ion cell manufacturing project, crucial to India’s burgeoning electric vehicle market. In line with this, EESL has signed a non-binding memorandum of understanding (MoU) with Hyundai Motor and Kia Corporation to explore strategic cooperation in the sector.
With the rising demand for lithium-ion batteries and storage solutions, Exide Energy’s operations will include producing, assembling, and commercializing battery modules and packs for mobility and grid-based applications.
The plant, initiated in 2022, is designed to reach a total capacity of 12GWh, split into two phases of 6GWh each. As reported by thehindubusinessline.com, in 2023, Exide partnered with SVOLT Energy Technology, a known global lithium-ion cell and battery manufacturer, for technical expertise and to execute the project on a turnkey basis.
